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Dec 13, 2012 5:00pm PST
just a couple of days ago that was published on bloomberg. first sentence was the u.s. is holding a debate critical to its future, whether it is a tax redistribute and consume income that would otherwise be invested. i disagree with that statement. that premise. please explain why the trade-off is being made. do it quickly because i want him to respond. >> the top 5 pg&e of households save about 40% of their income. and so that's really the income that would be invested so when you tax that -- those households, you're really taxing the households that produce the equity, invest the equity and hold the equity in our economy. that underwrites the risk. that is one of two binding constraints on our economy. >> eliot: before jeff i give him his moment, the reason i disagree is there are trillions of dollars of capital signature on the sidelines not being allocated and not being allocated for a host of reasons primarily a demand crisis and the government given the deficit, spends it. in consumption and its own
Search Results 0 to 1 of about 2 (some duplicates have been removed)